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Maker of heat-shrinkable materials, wire/cable insulation products and busbars for electronics, EV and power industries.
Maker of heat-shrinkable materials, wire/cable insulation products and busbars for electronics, EV and power industries.
Makes heat-shrinkable tubing and cable products by cross-linking plastics with electron beams, then sells them as components to electronics, car and power equipment makers, so volumes follow those customers' output. Specialty cables for rail, nuclear and new-energy uses have longer qualification periods.
In one line: A Chinese TE Connectivity (heat-shrink materials).
Moat: narrow (process know-how, IP / patents). Electron-beam irradiation cross-linking know-how differentiates its heat-shrink and cable products.
Headquarters: Shenzhen, Guangdong, China · Founded: 1994 · Employees: 8,735
Size Shenzhen Woer Heat-Shrinkable Material (002130.SZ) is a China Industrials company (Electrical Products) with a market value of $2.98B, the 866th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥14.43 on 6 Nov 2026.
Performance Over six months the shares fell 36.5%, against -29.7% for the median peer and -16.4% for the China market (cap-weighted) — 8th lowest of 21 in its peer set.
Growth Revenue grew 19.8% over the last twelve months (peer median +15.7%); the operating margin is 14.9% (peer median 8.5%).
Valuation It trades at 16.4× forward earnings against a peer median of 19.4× (6th cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +16%, so the hurdle is -14 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.5 points above its cost of capital (6.7% WACC).
Next results Next results expected around 15 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥9.81B | CN¥8.41B | CN¥6.89B | CN¥5.67B | CN¥5.30B |
| Revenue growth | — | +22% | +21% | +7% | — |
| Gross profit | CN¥3.13B | CN¥2.59B | CN¥2.10B | CN¥1.79B | CN¥1.57B |
| EBITDA | n/a | CN¥1.76B | CN¥1.41B | CN¥1.15B | CN¥979M |
| Net income | CN¥1.20B | CN¥1.14B | CN¥848M | CN¥700M | CN¥615M |
| Free cash flow | CN¥91.7M | CN¥138M | CN¥463M | CN¥579M | CN¥501M |
| Capital expenditure | CN¥1.21B | CN¥1.04B | CN¥445M | CN¥250M | CN¥370M |
| Total debt | CN¥3.23B | CN¥3.23B | CN¥2.27B | CN¥2.06B | CN¥2.23B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shenzhen Woer Heat-Shrinkable Material 002130.SZ | $2.98B | -37% | +20% | 15% | 16.4× | 1.8% |
| TE Connectivity TEL | $59.5B | +1% | +15% | 22% | 15.1× | 8.2% |
| Mersen MRN.PA | $976M | -1% | -3% | 9% | 13.1× | 11.0% |
| Sumitomo Electric Industries 5802.T | $27.3B | -47% | +14% | 9% | 11.4× | 13.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002130.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -7.3% | -11.3% | 8th highest of 21 |
| 6-month return | -36.5% | -29.7% | 8th lowest of 21 |
| Distance from 52-week high | -57.9% | -48.4% | 5th lowest of 21 |
| Revenue growth (TTM) | +19.8% | +15.7% | 10th highest of 21 |
| Operating margin | 14.9% | 8.5% | 5th highest of 21 |
| Forward P/E | 16.4× | 19.4× | 6th cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 1.8% | 7.7% | 2nd least demanding of 8 |
| Growth delivered (Del g) | +15.6% | +9.5% | 2nd highest of 8 |
| Hurdle (Req g minus delivered) | -13.9 pp | -1.8 pp | least demanding of 8 |
| ROIC minus cost of capital | +6.5 pp | -1.6 pp | 4th highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shenzhen Woer Heat-Shrinkable Material 002130.SZ | China | $2.98B | -37% | +20% | 15% | 16.4× | 1.8% | +15.6% |
| TDG 600330.SS | China | $2.96B | -43% | +21% | -19% | 320.4× | n/a | n/a |
| Zhefu 002266.SZ | China | $3.09B | -26% | +27% | 8% | 9.3× | n/a | n/a |
| Zhuhai CosMX Battery 688772.SS | China | $2.88B | +2% | +18% | -2% | 144.1× | n/a | n/a |
| Maruwa 5344.T | Japan | $3.12B | -46% | +26% | 36% | 19.5× | n/a | n/a |
| Time Interconnect Technology 1729.HK | Hong Kong | $2.84B | -57% | +84% | 7% | 10.8× | n/a | n/a |
| Mabuchi Motor 6592.T | Japan | $2.84B | +18% | +12% | 12% | 17.9× | 5.8% | +11.5% |
| Ming Yang Smart Energy 601615.SS | China | $2.80B | -47% | +8% | -4% | 19.4× | n/a | n/a |
| Shenzhen Senior Technology Material 300568.SZ | China | $2.80B | -23% | +45% | 10% | 27.4× | n/a | n/a |
| Shijiazhuang Shangtai Technology 001301.SZ | China | $2.80B | -16% | +34% | 13% | 16.6× | n/a | n/a |
| Tianneng Battery 688819.SS | China | $2.79B | -37% | +2% | 0% | 10.9× | -7.9% | +5.4% |
| Fortior Technology (Shenzhen) 688279.SS | China | $2.76B | 0% | +46% | 25% | 62.7× | n/a | n/a |
| Qingdao Hanhe Cable 002498.SZ | China | $2.74B | -37% | +21% | 3% | 18.3× | n/a | n/a |
| Zhongshan Broad-Ocean Motor 002249.SZ | China | $2.73B | -21% | +1% | 6% | n/a | 7.7% | +9.5% |
| Harbin Electric 1133.HK | Hong Kong | $3.27B | -54% | +13% | 7% | 6.2× | n/a | n/a |
| Daming Electronics 603376.SS | China | $2.71B | -22% | +110% | 9% | n/a | n/a | n/a |
| Schneider Electric Infrastructure SCHNEIDER.NS | India | $2.69B | -21% | +10% | 10% | 76.0× | 56.2% | +17.4% |
| Weihai Guangwei Composites 300699.SZ | China | $2.68B | -35% | +12% | 16% | 45.8× | 13.8% | +6.2% |
| GS Yuasa 6674.T | Japan | $2.67B | -33% | +6% | 10% | 9.9× | n/a | n/a |
| Huaming Power Equipment 002270.SZ | China | $2.66B | -19% | +7% | 32% | 22.3× | 5.9% | +12.3% |
| Baoding Tianwei Baobian Electric 600550.SS | China | $2.65B | -36% | +13% | 4% | n/a | 45.5% | +7.1% |